# Trading F&O via LLC or Pvt Ltd **URL:** https://tradingqna.com/t/trading-f-o-via-llc-or-pvt-ltd/21491 **Category:** General **Created:** [October 2, 2017, 7:45pm UTC](https://tradingqna.com/t/trading-f-o-via-llc-or-pvt-ltd/21491 "2017-10-02T19:45:54Z") **Posts on this page:** 1 **Showing post:** 224
### Author: ![Jason\_Castelino](https://tradingqna.com/user_avatar/tradingqna.com/jason_castelino/32/91357_2.png) [@Jason\_Castelino](https://tradingqna.com/u/Jason_Castelino) #### Post date: [August 13, 2023, 5:18am UTC](https://tradingqna.com/t/trading-f-o-via-llc-or-pvt-ltd/21491/224 "2023-08-13T05:18:31Z")
> [@dtyxg](#): > > My business expenses includes buying a car, office rent . > > We can claim expenses in ITR-3 **but we cannot claim purchase of vehicles as business expenses.** I will just repeat again. Expenses are allowed and disallowed on the basis of whether they are business expenses or not. Any expense of personal nature cannot be claimed irrespective of the type of entity you have. If you think you can buy a car and claim depreciation in a company, you are reading too much on the net. How is car going to help you in trading? Even if you buy it your company name, though you can claim depreciation in books of accounts, when total income is calculated for the purposes of taxation, such depreciation is to disallowed. So total income will be same whether the entity is company or firm or an individual. The things that you read on net are not coming from CAs who do tax audit. If I am your auditor I will clearly disallow such expenses. The problems is we read what we wanna read. If it’s going to benefit us, we will think what we read is right. If it was so, don’t you think our finance ministry would have covered this loophole by now? I agree is there a small advantage if you go for partnership firm. I have given my opinion here. > [@Any way to save tax for Individual Trader](https://tradingqna.com/t/any-way-to-save-tax-for-individual-trader/148949): > > I saw there are many threads discussing LLP/pvt ltd/ alpha membership etc. As I read more I get more confused and new threads comes up. I am an individual trader who just want to know if there is a way for an individual trader to reduce tax liability from ~33% to 42% if he/she is earning more than 1cr to 5cr per year from Stock market (Stocks + F&O). I don’t earn any of the above range currently but I am on track to earn \>1cr this FY and thinking if there is a way other than splitting into mul… --- _[View the full topic](https://tradingqna.com/t/trading-f-o-via-llc-or-pvt-ltd/21491)._